Section 4: Penalty, etc:

4. Penalty, etc:___ (1) Any person who refuses or fails to fill in, or does not provide information asked for in any of the questionnaires specified in sub-section (1) of section 3 or fills in or provides false information shall be guilty of an offence punishable with imprisonment for a term which may extend to three months, or with fine which may extend to rupees twenty five thousand, or with both. (2) If the person contravening any provisions of this Ordinance is a company, every person, who at the time the offence was committed, was in charge of, and was responsible to, the company for the conduct of business of the company as well as the company shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly: Provided that nothing contained in this sub-section shall render any such person liable to any punishment provided in sub-section (1) if he proves that the offence was committed without his knowledge or that he exercised due diligence to prevent the commission of such offence. (3) Notwithstanding anything contained in sub-section (2) where the offence under this Ordinance has been committed by a company and it is proved that the offence was committed with the consent or connivance of, or is attributable to any neglect on the part of any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall be guilty of offence and shall be liable to be proceeded against and punished accordingly. Explanation.___ For the purpose of this sub-section— 1New sub-sections(3) and (4) added by the Finance (Amdt.) Ordinance, 2000 (21 of 2000), s.8. (a) “company” means anybody corporate and includes a firm or association of individuals; and (b) “director”, in relation to a firm means a partner in the firm.

Effective date: 2000-01-01

Related sections